Attempting to make a projection of where this will go.
keeping it simple. It seems to have bounced higher then the previous low and has been squeezing long on the WEEKLY. This is bullish in the MMJ market at the moment, and has been over looked due to the mainstream stocks. They have a positive revenue report. I dont see any sell signals currently, just a small pull back to retest the higher levels, with possible...
As we can see, TSX:LEAF is approaching the wedge, where the upward trend line meets the current downward. There is where it will have to find support. The drop after the hearing that nearly lost, didn't help the situation. Hopefully we can see a reversal at that point.
On this Friday's chart, you can see that we have bounced off the light support line and closed above to a nice little upward consolidation right in the middle of the channel. The main support at 18.66 is now confirmed as heavy support. Today's final candle closed with a slight green hammer, which could indicate a positive Monday open, taking us towards 18.69. If...
Although there was an indication that it was going to re-test support as I mentioned, it retraced further than expected, but it respected the heavy support line drawn on the previous chart. Support remains the same, however, new support and resistance lines have also been established to indicate new windows. We closed today with a green indecision candle, so we...
Over the past few days, we can see that LEAF has been trailing it's rivals slightly, although it is strange that we didn't see more of a consistent breakout, considering we just saw a head and shoulders pattern, followed by a bull flag. It seems as though we might see a retest of the 32.8% fib retrace line to confirm a bullish trend. Thank you for viewing my charts!
We are holding a steady pace upward, exiting the downtrend finally, with a head and shoulders pattern finishing above the 0.236 retrace and past the downtrend channel. Closing in the red, just below the resistance line, it will be interesting to see if the H&S was a true indication of a bullish trend forming, or is that a bull flag I see directly after it?...